Perigon Wealth Management LLC Lowers Stock Position in Chord Energy Corporation $CHRD

Perigon Wealth Management LLC cut its stake in shares of Chord Energy Corporation (NASDAQ:CHRD) by 17.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,852 shares of the company’s stock after selling 4,949 shares during the quarter. Perigon Wealth Management LLC’s holdings in Chord Energy were worth $2,211,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Victory Capital Management Inc. lifted its holdings in shares of Chord Energy by 5.4% during the 3rd quarter. Victory Capital Management Inc. now owns 3,166,564 shares of the company’s stock worth $314,661,000 after acquiring an additional 163,125 shares during the last quarter. Wellington Management Group LLP increased its stake in Chord Energy by 19.9% in the third quarter. Wellington Management Group LLP now owns 1,705,153 shares of the company’s stock valued at $169,441,000 after acquiring an additional 282,746 shares during the last quarter. Sourcerock Group LLC raised its position in Chord Energy by 2.1% during the second quarter. Sourcerock Group LLC now owns 1,031,973 shares of the company’s stock valued at $99,947,000 after purchasing an additional 20,916 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its position in Chord Energy by 22.2% during the second quarter. Adage Capital Partners GP L.L.C. now owns 990,381 shares of the company’s stock valued at $95,918,000 after purchasing an additional 180,000 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in Chord Energy by 28.7% during the third quarter. AQR Capital Management LLC now owns 944,696 shares of the company’s stock worth $93,874,000 after purchasing an additional 210,471 shares during the last quarter. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Insider Activity

In other Chord Energy news, EVP Michael H. Lou sold 15,000 shares of the business’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $125.47, for a total value of $1,882,050.00. Following the transaction, the executive vice president owned 82,699 shares in the company, valued at approximately $10,376,243.53. The trade was a 15.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Lara J. Kroll sold 5,000 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $113.66, for a total transaction of $568,300.00. Following the transaction, the chief accounting officer directly owned 8,921 shares of the company’s stock, valued at approximately $1,013,960.86. This trade represents a 35.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 23,927 shares of company stock valued at $2,912,028. 0.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

CHRD has been the topic of several recent research reports. UBS Group increased their price objective on Chord Energy from $119.00 to $142.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. Scotiabank raised Chord Energy to a “hold” rating in a research note on Friday, March 27th. Weiss Ratings upgraded shares of Chord Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, March 17th. Wall Street Zen raised shares of Chord Energy from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Finally, Morgan Stanley raised shares of Chord Energy from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $114.00 to $168.00 in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Chord Energy presently has a consensus rating of “Moderate Buy” and an average price target of $141.83.

Chord Energy Price Performance

CHRD opened at $142.00 on Friday. The stock’s 50 day simple moving average is $115.66 and its 200 day simple moving average is $101.38. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.98. Chord Energy Corporation has a 1 year low of $79.83 and a 1 year high of $148.41. The firm has a market cap of $8.05 billion, a price-to-earnings ratio of 225.40 and a beta of 0.66.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.11. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.03 billion. Chord Energy had a return on equity of 6.71% and a net margin of 0.91%.The business’s revenue was down 19.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.49 earnings per share. As a group, analysts predict that Chord Energy Corporation will post 15.59 earnings per share for the current year.

Chord Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Thursday, March 12th were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Thursday, March 12th. Chord Energy’s dividend payout ratio is currently 825.40%.

Chord Energy Profile

Chord Energy Corporation (NASDAQ: CHRD), formerly known as Oasis Petroleum Inc, is an independent exploration and production company focused on the acquisition, development and production of crude oil, natural gas and natural gas liquids. Headquartered in Houston, Texas, Chord Energy emerged from financial restructuring in early 2021 and rebranded in October 2022 to reflect its renewed strategic vision.

The company’s core operations are concentrated in two prolific U.S. resource plays: the Williston Basin across North Dakota and Montana, and the Delaware Basin spanning parts of West Texas and southeastern New Mexico.